Member Info for Ella10

Hi F79,
Pure speculation on my part. The Kalaba mining licence no longer exists in the mining cadastre. The Exploration licence covering Kalaba is part of Handa LEL now (as previously discussed). Assuming this is a change due to whatever deal is happening then I am guessing that the deal is done as I would hope NVS would not relinquish a mining licence until everything was agreed - hence my thoughts on an RNS. The court case doesn't align with this thought as I'm not sure how AA would view a licence dispute but I have no idea what the deal may be. The licence going is odd but I am assuming, perhaps incorrectly, that it is deal related.

And this
http://s2.q4cdn.com/256050873/files/images/maps/Map_58_61-62.jpg

Not sure how to get the absolute locations from these.

SeisNav,
Excellent diagrams. Does this help at all?
http://www.arcminerals.com/files/doc_downloads/maps/Map_63-66.jpg

The change to the Kalaba mining licence is something that investors would need to be informed about. I assume the change to the mining licence, as part of any deal, would be one of the last things to happen. I think there's a good chance of an RNS tomorrow.

I would want to see a comprehensive and convincing update on Manica before a Bushranger/Fairbride comparison would do anything but concern me. I'm sure we'll get an update in the next couple of weeks :-)

SeisNav,
Any further thoughts on Kalaba? I have zero geology knowledge but from what I understand Kalaba is copper oxide but there are Cu:Sc indications in the area of Kalaba (and these are indicators for copper sulphide?). Do you think they will they go looking for sulphides at Kalaba (obviously won't be a high priority)?

Isomer,
I think the NSR is likely to mean we wouldn't get more on the open market. I'm not sure what % of profits a 3.5% NSR would equate to at current copper prices.
'If AA does not exercise the buy back and ProspectOre ultimately develops a mine, ProspectOre would have a 100% project interest less 3.5% NSR royalties and a $7.5M development payment to historic holders(which includesAA)'

Thanks again Leprechaun, nice to see all those dots laid out on the map, and how historic drilling relates to recently exposed potential.

Thanks Leprechaun,
Where did you find the location info?

Kully,
I agree but am realisically only hoping for a small percentage 25MT. I got the impression that AA had rerabked their targets, around the end of last year, but can't remember where that came from. Not sure what the deal is but I think the start of drilling RNS will give us more clues if it hasn't been revealed prior. Hopefully lots of copper that AA are prepared to cough up lots of money for.

Kully,

Slide 9 of this presentation shows Muswema as their best target.
http://s2.q4cdn.com/256050873/files/doc_presentations/2021/01/210125-Arc-Presentation-JAN-2021.pdf
From the recent RNSs I get the impression they think they have a reasonable chance of finding something massive in Muswema/Lumbeta.

It would be great if we found the following from the Toodyay ASX when we drill the SE
'There is additional potential for structurally hosted gold-arsenic mineralisation associated with faulted lithologic contacts south east of the Racecourse Prospect. '
QH find me some gold!

Has anyone seen any info on where BRC014 was located? It is only 2m of gold and it may well have been an error but I'd love to know where it was located.

Steve,
I'm not suggesting we should sell to AA if we we believe there is a lot of additional resource in the ground that we wouldn't be getting credit for. I think once we get to good confidence of 1MT then it is a resource that we should have confidence in realising significant profit on. It is probably a tradeoff as to how much drilling we do after 1MT is reached. Obviously we will put some holes in the most promising areas to give us an idea of what additional resource might be there.

LittleWing,
I'm not suggesting we should doubt the currwnt JORC resource and I agree 1MT looks like it should be reasonably certain. I also hope we will find a few nice areas of gold.

I don't think we would need to get to a JORC resource for an AA buyout but I do think we would need to have evidence to support around 1MT of copper at reasonable grades. AA should have sufficient expertise at their disposal to decide if there is enough evidence to support any resource estimate, although it may be quicker to get to a revised JORC estimate. Racecourse will be less attractive to other parties due to the following
'If AA does not exercise the buy back and ProspectOre ultimately develops a mine, ProspectOre would have a 100% project interest less 3.5% NSR royalties and a $7.5M development payment to historic holders(which includesAA)'

Thanks SeisNav,
Looking forward to the start of drilling RNS and confirmation of which areas we are drilling. I also think Muswema is looking very exciting.

Hi Andrew,
A suble difference but I think he said didn't have to accept the valuation rather than he didn't have to accept the offer.

This may be a better link
https://search.geoscience.nsw.gov.au/?q=EL%205574&t=digs&sort=score%20desc&p=false&a=true&s=false&page=1&count=50

While trying to see of our licence had been renewed I came across the following. If you search on 5574 you can find various interesting reports. I may have missed this being posted earlier in the project.
https://search.geoscience.nsw.gov.au/?q=5574&t=digs&sort=score%20desc&p=false&a=true&s=false&page=2&count=50

Is CBs Comment about XTR not having to accept a valuation not more along the lines of not accepting an exam mark and having a moderator check it?